JOYY (NASDAQ:JOYY) Stock Rating Lowered by Zacks Research

JOYY (NASDAQ:JOYY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently commented on JOYY. Morgan Stanley set a $66.00 target price on JOYY in a report on Monday, November 24th. UBS Group initiated coverage on JOYY in a research report on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price target for the company. Wall Street Zen downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. Finally, Citigroup increased their target price on shares of JOYY from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.67.

JOYY Price Performance

Shares of JOYY stock opened at $58.76 on Thursday. JOYY has a 1-year low of $37.53 and a 1-year high of $70.96. The company’s fifty day simple moving average is $63.62 and its 200-day simple moving average is $62.31. The stock has a market capitalization of $3.02 billion, a PE ratio of 1.51 and a beta of 0.36.

Institutional Trading of JOYY

Several institutional investors and hedge funds have recently added to or reduced their stakes in JOYY. DGS Capital Management LLC purchased a new position in JOYY in the 4th quarter worth approximately $232,000. Atlas Capital Advisors Inc. purchased a new stake in JOYY during the 4th quarter valued at approximately $392,000. New York State Common Retirement Fund raised its position in shares of JOYY by 8.8% during the fourth quarter. New York State Common Retirement Fund now owns 138,555 shares of the company’s stock valued at $8,973,000 after buying an additional 11,200 shares during the last quarter. SG Americas Securities LLC raised its position in shares of JOYY by 1,336.8% during the fourth quarter. SG Americas Securities LLC now owns 75,015 shares of the company’s stock valued at $4,858,000 after buying an additional 69,794 shares during the last quarter. Finally, Stonehill Capital Management LLC purchased a new position in shares of JOYY in the third quarter worth $80,885,000. Institutional investors own 36.83% of the company’s stock.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.